We are looking at a bounce and reversal at our support zone.
Keep it simple and clear and wait for the trade to come to you... don't buy down to that area, if the trade doesn't reach our zone then we haven't lost any money... This is peoples problem and the reason they fail in the markets because they are to eager to be in a trade and try and make QUICK MONEY, if...
Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so...
I like the look of this setup and I've already called my bank manager and told him I'm about to make a large deposit ;p
I have also rang my wife and told her I am trading her in for a younger model.. she was happy about it and said I'm selfish anyway... I don't know what she means ;p
We can see this has previously been used as a good area of resistance and with...
GBPUSD was travelling inside a descending channel. Price recently broke out to the upside, came back down to retest the channel before making its way up. On its way up price created an ascending channel. We believe price will go all the way up to the 0.618 of the last downwards wave , however we have placed our Take Profit at the 0.382
Fundamentals picking up for GBP with a falling price. This shows the intrinsic value of GBP is yet to be priced in, waiting on technical confirmations before entry.
- Candle formations
- Higher Highs
Any confirmation towards the upside.
Possible long for GBPUSD. Price has remained below the 200 EMA and 50 EMA indicating a short bias overall in the long term. We can see a strong trend line resistance crossing the chart and I believe this is where the price is heading towards in the next few days or even weeks, before it makes its move back downwards and carrying on the downward trend. The price...
You can see price is currently at good support, the red zone we have marked on our chart is good monthly, weekly, daily and 4H support so we can only see bullish movement from here with a possible run up to our resistance zone ( green box )
After a week of bearish power we are expecting the bears to slow down and take a break, so catching these 100 pips should...
Recently price was travelling in an ascending channel, however we did just see a clear breakout, several 4 hour candles closed below the channel. Right now price has come back up to retest the channel, also at the 0.618 which is the perfect reversal point of any wave. This suggests price will take a fall, our targets are marked above on the chart.
GBPUSD has been travelling in an ascending channel for quite some time but last week price broke out of it to the downside, Price has now come back up to retest the channel at the 0.618 retracement level. We expect price to drop down to the -0.27 extension level.
You can see 2 very key support and resistance levels drawn on the chart and price is nearly at our resistance level, we can only see downwards movement at market open after a very strong bullish rally on Friday just before market close price looks over bought so we are expecting bearish movement.
Its like if you go to the pub on a Friday night and you " over buy "...
Possible short for GBPUSD. Price has successfully completed a pullback to the trend line channel after the break out from last week. This could indicate a short bias. Price has also been recently rejected by a strong resistance line, also indicating the movement to the downside. FX:GBPUSD
strong resistance is seen at 1.2945-50. If bears break this pair 1.2905 then 1.2890 and 1.2860 can come into play in the near-term.
Cross-party Brexit talks in the limelight which can cause some volatility . Always use the correct risk management.